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Do you need some tips for your sales strategy? Check out the following techniques to increase sales!

6 proven techniques to increase sales for an FMCG business

Sales of an FMCGย business are similar to a see-saw, where both of the sides need to be balanced to maintain equilibrium. In this case, the volume and the price are the sides that need to be evened out to meetย the desired sales target.

Whether you sell kitchen, electronic or any other type of household appliances, for example, the basics remain the same. Even the market positioning of the product does not interfere withย the basics of the model.

Here are some steps which, if takenย correctly, you could increase salesย and improve cash flow within yourย venture. At the end of the day, cash is what matters.

1. Define dealer margins

If you are a new market entrant and want to promoteย aย brand/product, you should define the margins of dealers, who would buy yourย product with cash or credit to distribute it further.

Keep in mind that they might want to offer a discount to their customers, so you need to consider this in your pricing strategy. To encourage a larger purchase by dealers, you might want to offer them a quantity discount.

Additionally, you could offer aย 2% commission in the form of cash or products after a dealer reaches a certain threshold in terms of revenue.

2. Maintain your supply

Dealers would onlyย beย interested in partner with you if you have a well-established supply chain and inventory in place sinceย they would riskย their reputation if they cannot deliver aย product to their clients.

3. Refer customers

Invite other B2B companies to refer companies to you in return for a commission.ย This way you will be able toย boost your credibility as a reliable partner that can handle large volumes of transactions. This approach would also bring additional revenue for your company.

4. Share advertisement costs

Whatever the medium of advertisement is above-the-line (ATL) or below-the-line (BTL), the company should share expenses with their respective dealer as they are the ones promoting the brand.

A yearly allowance should be given to the dealers according to the percentage of their sales.

5. Provide after-sales service

The most important backbone of anyย business is the reliability, approachability, and convenience of after-sale services, warranty claims and possibleย refunds.

Aย company must be easily accessible and must reply immediately to any queries, especially the adverse ones. One happy customer would bring a few more happy customers, while one unsatisfied customer would spook lots of potential customers away.

6. Establish relationships within your industry

Nurturing long-term relationships with suppliers pays off big time.

If you have healthy partnerships with them, they will support you in the most difficult times as since a network of dealers in various regions allows you diversify risks and switch focus between regions in case one of them facesย an economic downturn.

Have you tried any of the tactics mentioned above in your business projects? How did you find them? And what tactics do you use when you make a sale? Let us know by leaving a comment below.


For more business tips, check our entrepreneurship section and subscribe to ourย weekly newsletters.

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